Here are some of the latest bankruptcy filings and out-of-court
restructurings to register on our radar.

Masonite International

Chapter 11 is knocking at the door of Masonite
International, which manufacturers doors and door components. The Canadian
company was acquired by New York-based private equity firm KKR in 2005 for $2.5
billion. But that acquisition left Masonite shackled by crippling debt that the
company has tried to unlock itself from during the past three years.

Bloomberg reports that Masonite's earnings have been hit
hard as housing prices have fallen to their lowest levels in decades. Kirkland
& Ellis has been retained as Masonite's Chapter 11 counsel.

Daniel DeFrancheschi, director of the restructuring and
bankruptcy group at Delaware's Richards, Layton & Finger, is serving as
local counsel in U.S. bankruptcy proceedings. Toronto's Goodmans has been
retained as Canadian counsel to Masonite, whose parent company is based in
Mississauga, Ontario.

Monaco Coach / Fleetwood Enterprises

Despite the fact that many of us might be living in one
of them soon, manufacturers of recreational vehicles and motor homes have not
faired well during the recession. Just last week two companies--Monaco Coach
and Fleetwood Enterprises--filed for bankruptcy.

Bloomberg reports that the slump in RV sales last year
was caused by increased fuel prices and tighter access to credit by
potential buyers.

Craig Millet, cochair of the national business
restructuring and reorganization practice group at Gibson, Dunn & Crutcher
in Irvine, Calif., is serving as bankruptcy counsel to Riverside, Calif.-based
Fleetwood.

Laura Jones, an American Lawyer Dealmaker of the Year in
2002 and name partner at bankruptcy boutique Pachulski Stang Ziehl & Jones
in Wilmington, is serving as Chapter 11 counsel to Coburg, Ore.-based Monaco
Coach along with partner Robert Orgel in Los Angeles.

So far, neither firm has filed billing information with
their respective bankruptcy courts.

NSA LLC listed assets of $55.6 million and $177 million
in debt in its Chapter 7 filing. Sanford Rosen of New York's Sanford P. Rosen
& Associates is listed as bankruptcy counsel. Arent Fox's Roy Babitt has
been appointed trustee for NSA LLC. The museum is hoping to sell its assets to
a new buyer who will reopen the facility.

In its bankruptcy filing, NSA LLC listed Sonnenschein
Nath & Rosenthal as the firm handling its IP and trademark work associated
with museum memorabilia.

Primus paid Skadden $700,814 for prepetition work done
between December 1 of last year and January 31, 2009. The firm received an initial retainer of $750,000 from Primus
"to be applied against anticipated professional services and expenses"
along with additional retainers in the amounts of $500,000 and $350,000 on
February 26 and March 13, respectively.

Skadden partners are billing Primus between $730 and
$1,050 per hour, counsel between $695 and $835, and associates between $360 and
$680.

On The Brink

Not all of the billables are coming through bankruptcy
assignments these days. Out-of-court restructuring work is also providing a
boon to firms during these tough economic times. Some significant hires
include:

-- The second-largest theme park operator in the world
behind Walt Disney, New York-based Six Flags is seeking to restructure its debt
obligations as a means of averting a bankruptcy filing. A firm spokeswoman
confirmed that Paul, Hastings, Janofsky & Walker is serving as
restructuring counsel to Six Flags. Bankruptcy and insolvency partner Paul
Harner, finance and restructuring partner Michele Cohen, and global securities
and capital markets cochair William Schwitter are leading theteam from the firm.